Absa Corporate and Investment Banking (CIB) says it is stepping up its capabilities in Transactional Banking to respond to ever changing client needs. Yasmin Masithela, Managing Executive for Transactional Banking, says clients no longer want generic products, they are expecting customised solutions that are customer centric and flexible to their needs.



“Clients are looking for
solutions that allow them to transact seamlessly across regions, they are
looking for efficient, scalable, secure and innovative solutions.&nbsp; We have seen a trend of the clients who want
plug and play solutions that are enabled through technologies such as Application
Programming Interfaces (API), minimising of development of intensive
integration,” she says. 



“This includes enabling our online channels to allow clients to transact direct from our online platforms. This has a significant impact on the integration cost reduction and operational efficiencies and embraces a best of breed technology,” Masithela says. 



Absa currently offers cash
management solutions which help clients to collect and make payments securely
and efficiently, across geographies. In some cases where clients experience
funding gaps, the bank can assist them by providing them with trade and working
capital finance and other Risk mitigating solutions.&nbsp; In addition, we offer international trade and
foreign exchange proposition in our transactional banking suites.&nbsp; 



“We also strive to enable clients to manage their liquidity effectively and ensure there is always sufficient cash available for them to get business done. &nbsp;&nbsp;These services are enabled through our online banking platforms which we are building and enhancing, as well as our host-to-host solutions which are existent,” she says. 



<figure class="wp-block-embed-youtube wp-block-embed is-type-video is-provider-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Absa steps up its Transactional Banking capabilities" width="500" height="281" src="https://www.youtube.com/embed/_fKHgOWKQG4?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div></figure>



Absa also provides
multi-product solutions tailored to the current business needs of its clients
and will be focusing more on anticipating what their future needs might be as
they expand. This means continuing to invest and innovate the transactional
banking offering which will result in the bank providing an even more highly
personalised service with insights into the specific sectors they operate in. 



Masithela says Absa has
invested significant resources into building a superior digital experience for
hyper-connected banking across multiple channels. This includes our current
focus of end-to-end process automation and integration to digitally transform
customer journeys and reduce process complexity.&nbsp; 



“Because of our pan-African
presence and our experience as a leading financial services provider on the
continent, we also have the benefit of a unique understanding of the diverse
transactional needs of our clients in different environments. 



Masithela says in line with
CIB’s pan-African growth strategy, the bank will introduce new solutions to
further strengthen its transactional banking capabilities. 



“In this respect, we are introducing
new propositions in the next few months which will help our focus on growth. &nbsp;We will be landing our single sign on portal &#8211;
Absa access that will allow clients to transact in one place in their digital
framework of choice be it, Online, mobile or through a host platform and
finally through API’s in a safe environment.



We want to offer our clients propositions that are simplified and seamless we are focused on creating a great experience for our clients, across our transactional offerings and truly enabling our clients to grow their business through the use of our platforms.



Content provided by Absa

Absa Reboots Image As 100 Years Of Barclays In Africa Ends

How Absa is gearing up to respond to client needs in transactional banking

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1110" height="349" src="https://www.cnbcafrica.com/wp-content/uploads/2020/02/3526_IATF_Februray_CNBC-Africa-Website-Banner_Version1-1110x349.jpg" alt="" class="wp-image-360311" srcset="https://cms.cnbcafrica.com/wp-content/uploads/2020/02/3526_IATF_Februray_CNBC-Africa-Website-Banner_Version1-1110x349.jpg 1110w, https://cms.cnbcafrica.com/wp-content/uploads/2020/02/3526_IATF_Februray_CNBC-Africa-Website-Banner_Version1-300x94.jpg 300w, https://cms.cnbcafrica.com/wp-content/uploads/2020/02/3526_IATF_Februray_CNBC-Africa-Website-Banner_Version1-820x258.jpg 820w, https://cms.cnbcafrica.com/wp-content/uploads/2020/02/3526_IATF_Februray_CNBC-Africa-Website-Banner_Version1-768x241.jpg 768w, https://cms.cnbcafrica.com/wp-content/uploads/2020/02/3526_IATF_Februray_CNBC-Africa-Website-Banner_Version1-1536x483.jpg 1536w, https://cms.cnbcafrica.com/wp-content/uploads/2020/02/3526_IATF_Februray_CNBC-Africa-Website-Banner_Version1-696x219.jpg 696w, https://cms.cnbcafrica.com/wp-content/uploads/2020/02/3526_IATF_Februray_CNBC-Africa-Website-Banner_Version1-1068x335.jpg 1068w, https://cms.cnbcafrica.com/wp-content/uploads/2020/02/3526_IATF_Februray_CNBC-Africa-Website-Banner_Version1-1337x420.jpg 1337w, https://cms.cnbcafrica.com/wp-content/uploads/2020/02/3526_IATF_Februray_CNBC-Africa-Website-Banner_Version1.jpg 1910w" sizes="auto, (max-width: 1110px) 100vw, 1110px" /></figure>



With seven days of live performances, expert speakers, special cultural highlights and an unprecedented list of exhibitors this year, you will want to delve into everything IATF2020 has to offer. 



The biggest trade fair event in Africa, IATF brings together more professionals under one roof than any other event of its kind on the continent. This year, the theme is “Building Bridges for a Successful AfCFTA” focusing on the African Continental Free Trade Area (AfCFTA), a market for goods and services across 55 countries, and paving the way for Africa to better achieve its economic and social goals.



Taking
place in Kigali, Rwanda, on 1 to 7 September, over one billion people will
showcase and exhibit their goods and services, while exploring business and
investment opportunities in Africa.



<iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/pWYuaA7LuAE" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen=""></iframe>



With stakeholders
that include investors, SMEs, and the informal sector, IATF2020 has become the
ideal platform to address the challenges affecting intra-African trade and
provide practical and effective solutions to overcome these challenges.



The
inaugural IATF2018, which took place in Cairo, Egypt, was an enormous success,
garnering US$32 billion in trade and investment deals with more than 1 000
exhibitors and 2 500 conference delegates from over 45 countries.



This
year, IATF2020 will surpass the success of previous years by providing a
platform for businesses to access an integrated market of over 1.2 billion
people with a GDP of over US$2.5 trillion created under the African Continental
Free Trade Area.



IATF2020
does not only serve as a marketplace where buyers and sellers of goods meet,
but also as a business matchmaker, enabling exchanges from business to business
and business to government and political stakeholders.



Additionally,
the IATF2020 Conference will feature leading African and international speakers
who will discuss a variety of topics surrounding African trade and investment
opportunities. There will also be training workshops covering exporting,
standards and marketing.



This
year, visitors and exhibitors will also get to enjoy work from the greatest
creative minds on the continent during the Creative Africa Exchange. The
initiative showcases Africa’s creative economy through music, film, fashion,
and a creative Africa summit.



IATF2020
will host art and craft exhibitions with magnificent pieces that have never
been displayed together before. Visitors will be able to engage with the
artists and craftspeople, and find out how art is leading the way in the
cultural industries.



Traders
who are unable to make it to Rwanda for IATF2020 can still log onto the
IATF2020&nbsp;<a href="https://www.intrafricantradefair.com/en/virtual-trade-fair" target="_blank" rel="noreferrer noopener">Virtual Trade Fair&nbsp;</a>and
showcase goods, services and investment opportunities on the interactive online
platform. The Virtual Trade Fair connects exhibitors and visitors from all
sectors, and provides a platform for delegates and non-attendees to connect in
real-time during the event and for the rest of the year after the Trade Fair
has concluded.&nbsp;



With
exhibitors from all over Africa and beyond, businesses across the public and
private sectors, and SMEs to multinational corporations, IATF2020 simply cannot
be matched anywhere else.



Make
valuable business connections and accelerate your reach into African markets at
IATF2020. 



To
register and get more information, visit the IATF website at <a href="https://www.intrafricantradefair.com/en" target="_blank" rel="noreferrer noopener">intrafricantradefair.com/en</a>

3526_IATF_Februray_CNBC Africa Website Banner_Version1

IATF is the biggest trade fair event in Africa, here’s what it has to offer

By Valter Adão, Chief Digital and
Innovation Officer, Deloitte Africa



The machines are coming for our jobs. This is a
dystopian vision of the future of work popularised by the media and perpetuated
in boardrooms across the globe.



South Africa is not immune from this misperception and
here it has created a climate of fear and paralysis. &nbsp;Leaders, both civic and corporate, hesitate to
encourage and incentivise the very digitalisation needed to sustain and grow
our economies out of a misguided fear of job losses and the ensuing civil
backlash.



Ironically, the exact efforts to protect jobs from
technology may end up being the biggest cause of job losses in the future.
Because, without a shift to a Fourth Industrial Revolution (4IR) mindset,
businesses will progressively become less competitive against their global
peers, eroding their economic relevance and the jobs they sustain. 



Decision makers, therefore, need the courage to embrace
the paradox that while jobs might be subsumed by technology, only technology
will be able to create new ones.



Yes, automation and cognitive technologies will
eliminate jobs; mostly in search of improved efficiencies and productivity, and
to some extent to reduce reliance on expensive, rare and specialised skills. It
is futile and economically reckless to think otherwise.



The good news is that these same technologies will create
demand for new skills and new jobs. The World Economic Forum (WEF) conducted an
extensive study, leveraging insights from business leaders cumulatively
responsible for 15 million people across a variety of sectors, skills and
seniority levels globally. The study concluded that for every job that is lost
to 4IR popularised technologies, 1.7 jobs will be created.



The consequent economic knock-on effects of these new
jobs, although not quantified, would undoubtedly be significant and further
contribute to net employment.



Unfortunately, the net new jobs will mostly remain in
the domain of the educated and available to those with the means to access and
afford the cost of sourcing new 4IR-related skills.



Green shoots



There are, however, green shoots of positive developments,
led by a new breed of digitally literate entrepreneurs. They have not
“invented” the technology, but instead leverage technology platforms to create
self-employment and economic sustainability. These digitally literate
entrepreneurs, many of them running micro-businesses, are creating employment
and economic activity in lower income level segments in the following key
areas:



1. Distributed value chains



Distributed value chains involve a category of people
who are generally unemployed or under-employed and are able to fulfil a
last-mile service gap by trading in their skills or available time. These
platforms link people with capacity and/or skills constraints to people with
the time and skills needed. This is done in a way that is dignified, safe,
peer-reviewed for quality of service, and enables higher wages compared to
traditional constructs. These platforms have been effective at creating jobs in
developed, low-unemployment economies. Their contribution to employment is
proven, significant and immediately tangible.



2. Collaborative consumption



It is often impossible for small organisations or
individuals to justify the ownership of an asset because of affordability, or
the ability to use the full capacity of the asset. The converse applies in
which access to the asset through a sharing mechanism enables the same benefit
as asset ownership. For example, digital platforms, such as Nigerian start-up
Hello Tractor, that provide access to key equipment on a pay-per-use basis
allow companies and individuals to reap economic benefits from utilising
technology without the associated costs of owning the equipment.



This in turn enhances efficiencies and competitiveness
of small organizations and levels the playing field for them in relation to
large ones. Collaborative consumption has many forms and different levels of
sophistication. At the extremes of technology, companies like 3D Hubs enable
the collaborative consumption of 3D printers, allowing the 3D printer to become
a shareable asset within its community.



3. Digital economic catalysts



Digital platforms increase levels of transparency,
which combined with the network effect of connecting communities and
frictionless transaction flow, is reviving sectors that have lost their appeal
due to a lack of transparency, reduced levels of trust and relevance to
specific demographic groups, and tedious or complex manual processes. These
sectors are being revived by digital platforms that economically empower
micro-entrepreneurs – or allow them to further empower other
micro-entrepreneurs. StokFella and Livestock Invest are good examples of
platforms that have shaken up entrenched concepts.



Digital technologies present both risks and potential.
The way forward is not fixed nor will it be easy, but with the right leaders,
and a mindset of urgency, curiosity and a preparedness to challenge existing
paradigms, we have a good chance of achieving an abundant future.



We also need citizens and entrepreneurs that see
opportunity in this new era open to doing things that have never been done
before – in ways not previously considered, leveraging technology never before
available.

Op-Ed: Why leaders need to embrace, not fear, the digitised future of work

Content supplied by Africa Investment Forum 



Abidjan, Côte d’Ivoire, 17 October 2019 – In just a few weeks, the second edition of the annual Africa Investment Forum will kick off in Johannesburg, South Africa, with development finance institutions determined to tackle the continent’s infrastructure investment challenges and advance Africa’s economic transformation agenda.



Africa
Investment Forum 2018 broke the mold for regional investments and offered
lessons about what can be done when multilateral development and finance
institutions decide to pull their resources together to deliver as one.



&nbsp;“When we laid out our vision to
tilt the flow of capital into Africa by convening the first transaction-based
investment forum, many thought it would all amount to building castles in the
air. One year down the road, the verdict is undisputed. Africa’s investment
opportunities are proving to be seriously attractive,” said Akinwumi Adesina,
President of the African Development Bank, convener of the Forum.



&nbsp;The inaugural forum powerfully
demonstrated the Bank’s convening power and ability to rally key development
institutions, global and regional investors around the common objective of
fast-tracking Africa’s economic transformation.&nbsp;



&nbsp;The collective resolve to tackle
head-on Africa’s annual infrastructure investment gap, estimated at between
US$130 billion and US$170 billion, was on full display during the opening
ceremony.&nbsp;



&nbsp;“The inaugural Africa Investment
Forum witnessed an extraordinary level of engagement. The conversation moved
from talking about investment to advancing deals towards financial closure. 2019
will validate and redefine the perception of investor confidence regarding the
African Continent,” said David Makhura, Premier of Gauteng province in South
Africa.



&nbsp;Heads of key partner institutions
include Patrick Dlamini, CEO, Development Bank of Southern Africa, Professor
Benedict Oramah, President, the Africa Export-Import Bank, Dr. Bandar M. H.
Hajjar, President, Islamic Development Bank; Admassu Tadesse, President, Trade
and Development Bank. The Forum’s founding partners also include Alain Ebobisse,
CEO, Africa 50; Mallam Samaila Zubairu, CEO, Africa Finance Corporation.&nbsp;



For <a href="https://www.cnbcafrica.com/africa-investment/2019/10/11/why-the-africa-investment-forum-ranks-among-the-best/">Alain Ebobisse, CEO of Africa50</a>, the continent is brimming with opportunities that are waiting to be seized. “The Africa Investment Forum not only brings together investors and stakeholders to initiate deals but can help close transactions that would otherwise take months or years. In infrastructure, this makes a significant difference since the financial and opportunity costs of project delays are high.” 



&nbsp;Africa’s development challenges
need a swift, bold, and robust response. Of the world’s 20 countries with the
least access to electricity, 13 are in Africa. Investment in the region of
$43-55 billion per year is needed until 2030-2040 to meet demand and provide
universal access to power.



&nbsp;“The audacity showed in South
Africa last year, and the results in terms of investment and deals closed will
live long in the investor community’s memory,” Adesina tells global investors
on the hunt for yields and opportunities. 



“We
will be reaching for new heights. Already, a robust pipeline of deals valued at
billions of US dollars, in energy, cross-border infrastructure, agriculture
will be tabled for discussed in the boardroom sessions,” he said.



 Last year’s Forum attracted 1,943 participants representing 87 countries and brought together 400 investors from 52 countries. The innovative investment marketplace, brings together heads of state, project sponsors, pension funds, sovereign wealth funds and other institutional investors.. Policymakers, private equity firms, and other key senior government officials will also be present. 



Africa
Investment Forum 2019 will run from 11-13 November in Johannesburg, South
Africa.

Africa Investment Forum: A robust pipeline of deals valued at billions of US dollars will be on the table

Content supplied by Africa Investment Forum 



By Alain Ebobissé, CEO, Africa50



“The Africa Investment Forum, with its high-level, well-focused audience, ranks among the best.  Its strength is that it is very transaction-oriented. The Forum not only brings together investors and stakeholders to initiate deals, but can help close transactions that would otherwise take months or years,” says Ebobissé.



Ebobissé is the Chief Executive Officer of Africa50,
an infrastructure investment platform helping to facilitate project
development, mobilizing public and private sector finance, and investing in
infrastructure projects on the continent. Africa50’s investor base is currently
composed of the African Development Bank, 28 African countries, and two African
central banks.



In this interview, Ebobisse shares insights on the Africa Investment Forum and why it ranks
among the best.



What
are your most important memories and experiences of the inaugural Africa
Investment Forum?



Our
expectations for the Forum were high, and they were exceeded. We had in total
45 meetings, including three boardroom sessions with project developers, sponsors
investment firms and government entities who were eager to discuss and close
deals.



This
allowed us to build up our project pipeline. Two projects discussed during the
Forum are moving forward. 



The
Africa Investment Forum was also an excellent networking opportunity with high-level
government officials, including heads of states. Discussing projects with such decision
makers is critical as it can accelerate the approval and development
process.&nbsp; 



What
are some of the key milestones from your organization (in terms of deals
closure, tracking, etc.) reached at the forum? &nbsp;



At the 2018 Africa
Investment Forum in Johannesburg, we reached preliminary agreements on two
major projects, which we signed and publicly announced. One is the Kigali
Innovation City and the other, the road-rail bridge linking Brazzaville and
Kinshasa. Both create new hubs in the center of Africa – the first for
innovation, the second for transportation. The two projects are valued at $850 million.



Almost
70% of the projects that were initiated at last year’s Africa Investment Forum concern
infrastructure, so the Africa Investment Forum was a great venue for Africa50.



It
was also the right space for widening our institution’s thought leadership and
expertise on infrastructure. In addition to the plenary sessions I participated
in, Africa50 Director for Project Development, Koffi Klousseh, spoke on a panel
on creating bankable projects and at a side event on energy infrastructure. 



How
does the Africa Investment Forum compare with similar investment forums &#8211; what
is the Forum’s comparative advantage?



As
an organization, we attend and speak at several events focused on investment in
Africa every year. The Africa Investment Forum, with its high-level,
well-focused audience, ranks among the best. 



Its
strength is that it is very transaction oriented. The Africa Investment Forum not
only brings together investors and stakeholders to initiate deals, but can help
close transactions that would otherwise take months or years. In infrastructure,
this makes a significant difference since the financial and opportunity costs
of project delays are high.



The
Forum’s work streams on project preparation, and bankability, coupled with
promoting investment and improving the policy environment, are very much on
target. These are also our priorities at Africa50.



The
mix of participants is also well balanced and includes all the main stakeholders,
from sponsors and investors, to enablers and service providers. 



The
Forum is led by the stakeholders in the deal-making process, sponsors,
governments, and DFIs/financiers. They prepare projects and negotiate all year
round. So the Africa Investment Forum is not a one-off event, but an
accelerator of a long-term process. This sets it apart from other events.



Why
is it important for DFIs, IFIs, MDBs, and commercial banks to collaborate in
the manner that they did at the Africa Investment Forum?



Large
investments in Africa, in our case infrastructure, need many sources of finance
and expertise, so the collaboration between public and private financial institutions
is crucial to getting deals off the ground. Each entity brings specialized
expertise and different funding and risk guarantee instruments. 



Once
again, the Africa Investment Forum is actually a marketplace for deals, not a
conference. This requires more involvement on the part of participants, which
leads to better collaboration between commercial banks and DFIs to provide a broader
array of financial products to fund infrastructure. 



How
are you organizing and mobilizing for the next Africa Investment Forum?



We
will send appropriate high-level staff to participate in four ways: by promoting
our thought leadership on infrastructure development during panel discussions;
by promoting our newly launched Innovation Challenge, which focuses on
increasing access to last-mile internet connectivity in under-served areas in Africa;
we will also be engaging in project-specific transactions and negotiations,
during boardroom sessions and will engage with high-level government officials,
including Heads of State or Government on specific projects or to encourage
them to become Africa50 shareholders.

Why the Africa Investment Forum ranks among the best

2019 CNBC Africa Corporate Golf challenge

<div class="wp-block-image"><figure class="aligncenter is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/09/HUGO-BOSS-1-683x1024.jpg" alt="" class="wp-image-345770" width="364" height="546"/><figcaption>Alex Thomson</figcaption></figure></div>



From the catwalks of New York to Milan, HUGO BOSS has brought its stylishness and elegance to sailing with its iconic new yacht. The brand associated with stunning designs collaborated with Egyptian-born and Canadian-raised Karim Rashid, one of the most prolific designers of his generation, to devise the brand identity for the new ‘HUGO BOSS’ yacht, which record-breaking sailor Alex Thomson, stylishly dressed in the HUGO BOSS capsule collection will race in the 2020 Vendée Globe.



Vendée
Globe, known as the “Everest of Sailing”, is a solo, unassisted round-the-world
race. 



It is one of the most gruelling challenges a yachtsman can face, and for skipper Thomson it is one he is determined to win – after coming in third in 2012 and second in 2016.



<iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/-Mb2UL4G_G0" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen=""></iframe>



Rashid
who has more than 4,000 designs in production and 300 awards to his name worked
closely with the Alex Thomson Racing Team to turn his peerless expertise to
creating an inimitable look for the International Monohull Open Class Association
(IMOCA) 60 yacht.



<div class="wp-block-image"><figure class="aligncenter is-resized"><img loading="lazy" decoding="async" src="https://www.cnbcafrica.com/wp-content/uploads/2019/09/HUGO-BOSS-2-682x1024.jpg" alt="" class="wp-image-345771" width="359" height="540"/><figcaption>Karim Rashid</figcaption></figure></div>



Not
only will the striking neon pink design boat sail in the Vendée Globe but in a
number of long-distance races.



The new ‘HUGO BOSS’ yacht, which has just been unveiled and set sail through London&#8217;s iconic Tower Bridge for the christening ceremony, will make its first voyage when Thomson competes in the Transat Jacques Vabre race from France to Brazil, starting on October 27, 2019. 



<iframe loading="lazy" width="560" height="315" src="https://www.youtube.com/embed/Hk2LjVysLUw" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen=""></iframe>



On working with Rashid, Thomson said it was worthwhile: “while collectively – through our team, together with our naval architects and boat builders – we had all the skills required to design and build the new HUGO BOSS, we knew that we needed somebody to devise a strong brand identity for the boat. And that is where Karim’s vision came into play. It was great to see how passionate he was about the project from the very beginning.



Speaking
about the project, award-winning designer, Rashid shared similar sentiments:
“It is special to work on this. HUGO BOSS is such a global brand with a
contemporary vision, and Alex Thomson is such a champion in the sailing world.
Meeting Alex showed me the great passion one needs for these races. And
collaborating with HUGO BOSS and the Alex Thomson Racing team members, having a
constant back-and-forth dialogue, was essential in shaping my vision.”

HUGO BOSS sets sail with record-breaking sailor Alex Thomson

<div style="max-width: 700px;"><video-js data-account="1571595826001" data-player="default" data-embed="default" controls="" data-video-id="6078506097001" data-playlist-id="" data-application-id="" class="vjs-fluid"></video-js></div>
<script src="https://players.brightcove.net/1571595826001/default_default/index.min.js"></script>
A panel session at the ongoing 59th Annual General Conference of the Nigerian Bar Association focused on space law, exploration and research in Nigeria and the benefit it presents to the country. To discuss his takeaways from the panel session Bart Nnaji, Chairman and CEO of Geometric Power and former Minister of Power in Nigeria joins CNBC Africa’s Christy Cole for more.

NBA delves into space law, exploration research and futuristic thinking

<div style="max-width: 700px;"></div>
<script src="https://players.brightcove.net/1571595826001/default_default/index.min.js"></script>
This Friday will see the inaugural Forbes Woman Africa Regional Forum happen right here in Kigali, Rwanda. The event is expected to bring together around 250 influential women leaders from around East Africa. One of the key organisers – Managing Editor of Forbes Africa and Forbes Women Africa, Renuka Methil joins CNBC Africa for more.

Inaugural Forbes Woman Africa Regional Forum set for Kigali

The leading business talk show on the number one business magazine platform, Forbes Africa My Worst Day with Peace Hyde, is set to launch its third instalment and this time, the program has a lineup of powerhouse business tycoons from the global business world. The show which is renowned for interviewing the African continent&#8217;s billionaires and millionaires on their most challenging day ever in business has raised the bar by venturing into global business world to assemble a league of some of the richest and most successful African American moguls. 



Reprising her role as creator, producer and host of the show that
reaches some 60 million homes across 16 countries in sub Saharan Africa, Peace
Hyde is set to take the award-winning show global. Successful editions have of
the show has been syndicated in Ghana and South Africa drawing in an enviable
guest list of some of the most powerful people in African business.



Some of the guests on this line up include, Eddie Brown, one of the
wealthiest philanthropists in Baltimore and founder of Brown Capital Management
investment firm with over $9 billion of assets under management; Janice Bryant
Howroyd, founder and CEO of $925 million ActOne, provider of workforce
solutions including temporary staffing; Cathy Hughes, media mogul and founder
of TV One and Urban One launched in partnership with Comcast with 53 stations
across 16 markets and Bishop TD Jakes of TD jakes Enterprises to name a few. 



From London, the prestigious shortlist includes the powerlist most
powerful person of African and Caribbean heritage for 2017 and 2019, Tom Ilube
and Ric Lewis respectively. Tom Ilube is a millionaire tech entrepreneur and
education philanthropist who is the founder of AIM listed Crossword
Cybersecurity and also a non-executive director of the BBC and sits on the
Royal Ban of Scotland’s technology Advisory Board. Ric Lewis is a CEO of
Tristan Capital Partners, an independent London headquartered real estate
investment management boutique with $10 billion of assets under management.



“We have interviewed some of the most powerful people in Africa and for
this season, we decided to seek out people all over the world with African
heritage and explore how they overcame their most challenging day in business.
When we started 3 years ago we didn’t realise how big the show will be and we
have had overwhelming feedback from all over the world and hence the reason why
we are going global with this season,” says Peace Hyde.



The show has previously featured Africa’s richest man Aliko Dangote
alongside other billionaire moguls like Africa’s second richest woman,
Folorunso Alakija, South African millionaire and Mayor of Johannesburg Herman
Mashaba, AFDB President Akinwumi Adesina and Ghanaian millionaire moguls Paa
Kwasi Nduom. The third season of the show is sponsored by leading real estate
company, Nedcomoaks.

Forbes Africa’s My Worst Day with Peace Hyde launches the global powerhouse edition on CNBC Africa

Content supplied by SingularityU 



SingularityU South Africa announced that more speakers have been added to the programme for the inaugural Exponential Finance Summit, which will take place at the Cape Town International Convention Centre on 29 and 30 May 2019. The new speakers include Shane Glynn, Hylton Kallner, Phathizwe Malinga, Benjamin Rosman and Magda Wierzycka. 



Shane Glynn is the co-founder and General Counsel
of MobileCoin, a company that provides private, mobile and digital cash payment
systems. Prior to MobileCoin he worked as a Senior Product Counsel on a variety
of projects at Google, including the Pixel phone, Google Fiber and open access
national WiFi. Glynn’s talk will address privacy in the world of exponential
data. Now that we are all connected, and headed towards a cashless society,
Glynn will discuss what are the implications are for business and society at
large, and why this is so important for freedom in the future. We are seeing a
tremendous rise of cashless and mobile payments from China. The question that
needs to be asked is whether the rest of the world will embrace or compete with
China.



With
a BEconSC in Actuarial Science,
Hylton Kallner, is currently the Chief Executive Officer for Discovery Life,
and oversees the group’s Marketing and Distribution. Additionally, he also
plays a key role in the executive committees of Discovery Limited, Discovery
Health, Discovery Life, Discovery Invest, Discovery Insure and Discovery
Vitality. Also a fellow of the Actuarial Society of South Africa, Kallner will
address the convergence between banking and insurance.



In
her role as chief executive officer at Sygnia Limited, Magda Wierzycka is known
for her strong anti-corruption corporate activism in South Africa. She is in
high demand as a speaker on the topic of ethical corporate leadership, both
domestically and internationally. She also sits on the advisory board of the
Centre for African Studies at Harvard University, USA. In her talk at the
Exponential Finance Summit, Wierzycka will discuss the road ahead in Asset
Management.&nbsp; 



Phathizwe
Malinga, who recently returned from Silicon Valley, is part of the Singularity
University South Africa faculty with a focus on Internet of Things and Big
Data. As the Managing Director of SqwidNet, Malinga is responsible for building
an Internet of Things (IOT) connectivity business in South Africa in
partnership with International IOT giant SIGFOX. He In addition to his CEO
role, he oversees the solutions division for SqwidNet, a fully-owned subsidiary
of Dark Fibre Africa. In his talk, he will share his expertise related to the
Internet of Things within the finance sector.



As a
member of the South African Singularity University faculty, Benjamin Rosman
specializes in machine learning, artificial intelligence, robotics and
automation. He is a principal researcher in the Mobile Intelligent
Autonomous Systems group at the Council for Scientific and Industrial Research
(CSIR) in South Africa. Rosman is also a senior lecturer in the School of
Computer Science and Applied Mathematics at the University of the
Witwatersrand, Johannesburg, where he runs the Robotics, Autonomous
Intelligence and Learning Laboratory. His talk at the Exponential Finance
Summit will tackle artificial intelligence and re-enforcement learning. 



These speakers add to the already
prestigious slate of presentations boasting world renowned cybersecurity expert
Jaya Baloo, exonomics and exponential business models expert Amin Toufani,
blockchain specialist Tanya Knowles, future of cities expert Geci Karuri-Sebina
(PHD), Catherine Wood, founder of ARK invest, and data science
specialist Manu Sharma. Other headline speakers include Ramez Naam, Kyle Nel, David
Roberts, Kirsty Roth, Ashley Anthony, Mic Mann, Shayne Mann, Nathana Sharma,
and Paul Pagnatto – one of the top 35 global wealth advisors globally. 



This groundbreaking event is the next
iteration in SingularityU’s journey to #futureproofAfrica, by creating a global
community of changemakers, who are able to implement solutions to solve the
world’s Global Grand Challenges by using exponential technologies. 



“As part of our journey in
future-proofing Africa, we are thrilled to have added more incredible speakers
to the line up for our Exponential Finance Summit. We feel a great sense of
pride to be bringing these world class experts and thinking to our South
African shores,” said Shayne Mann, co-CEO of SingularityU South Africa. 



“Throughthe Exponential
Finance Summit, we hope to facilitate meaningful networking connections on a
global scale, encourage ideas that can change the financial world, stimulate the
South African economy, and kickstart a strong venture capital ecosystem. Impact
is the currency of the future and these new speakers promise to add exactly
that,” said Mic Mann, co-CEO of SingularityU South Africa. 



The Exponential Finance Summit is an industry-specific
event hosted in collaboration with The Development Bank of Southern Africa,
global partners Deloitte, and Discovery, and strategic partner MTN. The Summit
will showcase how exponential technologies are simultaneously shaping and
disrupting the financial industry. It aims to empower attendees with the latest
insights on how to boost GDP growth, create
employment, and attract foreign direct investment—a key enabler of
economic growth that is especially important for emerging market economies.



“Exponential Finance will be a
transformative experience for attendees. SingularityU South Africa convenes the
world’s experts to introduce attendees to exponential technologies and equip
them with the mindset and leadership needed to take the finance industry into
the future,” said Rob Nail, CEO and associate founder of Singularity
University. “We expect that these two days will incite and inspire action that
will lead to breakthroughs in Africa’s economy.”



Similar to the annual SingularityU
South Africa Summit, Exponential Finance will focus on creating a collaborative
and more economically-inclusive future, whereby partnerships and deals can be
conceptualised and developed across the continent. Networking opportunities
will allow attendees to connect with
SingularityU alumni. Exhibitors will present breakthrough ideas and
investment opportunities that will run alongside the summit. 



Book your tickets now for
the inaugural
Exponential Finance Summit South Africa



When: 29 – 30 May 2019



Where: Cape Town International
Convention Centre, 1 Lower Long Street,
Cape Town



Cost: Standard tickets: R18 500,
Late mover tickets: R20 350. Tickets limited to 1,000 attendees. 



What to bring: An exponential mindset and
your networking skills



REGISTER
<a href="https://exponentialfinance.singularityusouthafrica.org/">here</a>



About SingularityU South
Africa



SingularityU South Africa
is the sixth country partner of Singularity University and the first in Africa.
It is hosted in collaboration with our country partner The Development Bank of
Southern Africa, global partner Deloitte, and strategic partner MTN. Our
massive transformative purpose is to build an empowered network of globally
connected changemakers across Africa, who are able to innovate and implement
solutions that will solve some of the continent’s greatest challenges. We want
to leapfrog Africa into the Fourth Industrial Revolution. We can do so by
empowering its people to create abundant, sustainable, and holistic ways of
living and working. In this way, we can #futureproofAfrica. We apply SU’s
approach of applying exponential technology and thinking to solve South Africa’s
and the continent’s greatest challenges around unemployment, education,
infrastructure, energy, and medicine, among others. As a catalyst for change,
SingularityU South Africa runs custom education, innovation, and impact
programmes that help others leverage rapidly accelerating technologies – including
artificial intelligence, nanotechnology, blockchain, and digital biology – in
innovative ways to unlock solutions that can positively impact millions of
lives.



About SUSA Exponential
Finance Summit



South Africa’s inaugural two-day Exponential Finance Summit, which is organised by SingularityU South Africa, will take place at the Cape Town International Convention Centre on 29 – 30 May 2019. It is an industry-specific event that is hosted in collaboration with The Development Bank of Southern Africa, Deloitte, Discovery, and MTN. The SUSA Exponential Finance Summit will bring an industry focus to the financial sector and will showcase over 20 of the continent’s and world’s foremost innovators in technology, finance, and investment, including newly-appointed <a href="https://singularityusouthafrica.org/faculty/">SingularityU South Africa faculty members</a>. They will address how exponential technologies can help to solve the world’s global grand challenges through the lens of the financial sector.

SingularityU South Africa to hold Inaugural Exponential Finance Summit

Brought to you by Hugo Boss



<div class="wp-block-image"><figure class="aligncenter is-resized"><img loading="lazy" decoding="async" src="http://cnbc.africa/wp-content/uploads/2019/05/Hugo-Boss-Logo-1110x624.jpg" alt="" class="wp-image-335412" width="58" height="32"/></figure></div>



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By Melitta Ngalonkulu, Journalist at Forbes Africa. 



Formula E is known
for its fascinating races globally. The partnership will have a strong focus on
the future of motorsport. In doing so the races will host a unique series for
the development of electric vehicle technology, refining the design,
functionality and sustainability of electric cars while creating an exciting
global entertainment brand.



HUGO
BOSS which boasts a long tradition of motorsports sponsorship – has been
successfully engaged in the electric-powered racing series since the end of
2017. 



In this collaboration, HUGO BOSS brings its 35 years of experience and expertise in the motorsport arena to Formula E, as well as the dynamic style the fashion brand is renowned for.



<figure class="wp-block-image"><a href="https://ad.doubleclick.net/ddm/trackclk/N4022.2065120CNBCAFRICA/B22341404.245923089;dc_trk_aid=442353184;dc_trk_cid=115471848;dc_lat=;dc_rdid=;tag_for_child_directed_treatment=;tfua=" target="_blank" rel="noreferrer noopener"><img decoding="async" src="http://cnbc.africa/wp-content/uploads/2019/04/HB_Formula_E_01_CMYK-1110x740.jpg" alt="" class="wp-image-335174"/></a><figcaption> Alejandro Agag (Formula E CEO) and Mark Langer (HUGO BOSS CEO)</figcaption></figure>



Mark
Langer HUGO BOSS, Chief Executive Officer (CEO) says that though they have been
working successfully with motorsports over the years, he is exceptionally
pleased that as a fashion brand they are taking the cooperation to new heights.




“As
a fashion brand, we are always looking at innovative approaches to design and
sustainability. When we first encountered Formula E, we immediately saw its
potential and we are pleased to be the first apparel partner to support this
exciting new motorsport series,” he says. 



The
fashion group is also the official outfitter to the entire Porsche motorsports
team worldwide. 



The
fascination with perfect design and innovation, along with the Porshe and Hugo
Boss shared passion for racing, inspired Hugo Boss to produce the Porsche x Boss
capsule collection.



Its standout features include premium leather and wool materials presented in the Porsche and HUGO BOSS colors of silver, black and red. 



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Since
March, a range of menswear styles from the debut capsule collection is
available online and at selected&nbsp;BOSS stores.&nbsp;In South Africa the
first pieces of the capsule will come as a part of the FW 19 collection.



Alejandro
Agag, Founder and CEO of Formula E says he is confident that the racers will put
their best foot forward on the racecourse. 



“This new partnership will see the team on the ground at each race dressed with a winning mindset and ready to deliver a spectacular event in cities across the world. As the first Official Apparel Partner of the series, we look forward to seeing the dynamic style and innovation on show that BOSS is renowned for,” says Agag.



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Oliver
Blume CEO of Porsche AG says Formula E is an exceptionally attractive racing
series for motorsport vehicles to develop. 



&#8220;It offers us the perfect environment to strategically evolve our vehicles in terms of efficiency and sustainability. We&#8217;re looking forward to being on board in the 2019/2020 season. In this context, the renowned fashion group HUGO BOSS represents the perfect partner to outfit our team.&#8221;

HUGO BOSS partners with Porsche to bring action-packed racing experience through Formula E

By Josh Adler 



April 15, 2019, will hopefully mark the day a new phrase enters popular discourse about how our economic futures could play out. The term “4th Industrial Revolution” has come to embody the conversation around the supply-side of the jobs debate -skills and education. We hope to drive new research, discussion and policy around the demand-side of employment by deeply exploring entrepreneurship as a career -particularly for students of high potential. What if skilled students with options chose an entrepreneurship path and hired their friends and peers along the way? What does Africa’s youth employment situation look like if this happens? 



The Anzisha Scenario campaign concept was born after heated discussions and exchanges internally in response to a research paper that was released in 2018, and the resulting coverage it got in the media. The research took a position that older founders in the US have been more successful as entrepreneurs generally, and particularly when it comes to scale and job creation. The ensuing media and social media coverage seemed to quickly extrapolate this to an insight that applied globally. Emails quickly circulated across the entrepreneurship and education ecosystems echoing the sentiments of the research and its impact for programming. 



I had a particularly strong reaction to the report. It’s not that the research is wrong (it isn’t), it’s that it:



<ul class="wp-block-list"><li>Is pretty obvious. Prior work, life and management experience should make you a better entrepreneur when you’re older, in the same way it should make you a more successful manager or leader within an existing business.</li><li>Inadvertently positions the problem of youth unemployment as largely unsolvable by young people themselves. But with not enough job opportunities to start with, if only people with 15+ years&#8217; experience can create other jobs, we’re in a heap of trouble.</li><li>Is quickly supported by those who have followed traditional education and career pathways, crowding out other experience pathways as less legitimate. Anyone who got a great degree, and then worked for a great company, is immediately validated and pre-qualified as a better scale entrepreneur through formal training. Few have that opportunity. </li></ul>



Having had this research kick off some of our own thinking, we started to look at our own evidence and work. And this then became the next driver of investing in a campaign as a pan-African, inclusive, multi-stakeholder scenario planning exercise. 



We have seen, time and again, young entrepreneurs start out from the very youngest of ages, and slowly build careers –in the same way any other career professional would. Those that are well supported throughout tend to be more successful, just as a well-supported professional would be on their path to senior management. We will be presenting these stories in a Hall of Fame campaign later in the year.



We also have seen clear evidence that managers hire from their peer group in terms of age. Older entrepreneurs hire older professionals. Young entrepreneurs hire young. The only people really willing to hire 19 year old’s without question are 23 year old entrepreneurs (or thereabouts).



 We have seen young people of high potential and with options &#8211; they are actively recruited by universities and employers &#8211; choose entrepreneurship. The combination of this and many other thoughts is part of the discussion we want to have. Is the Anzisha Scenario possible? What are the drivers, barriers and opportunities? What are the roles of parents, teachers, students, policy-makers and other stakeholders in making the choice of “entrepreneurship as a career” desirable and supported, with appropriate income as you grow? The Anzisha Scenario as a conversation on campus has already begun to influence our own curriculum planning as our faculty think about their role in promoting and supporting entrepreneurship as a career path. 



We’ve already had two stakeholder workshops with cross-sector representatives from South Africa, Mauritius, Egypt, Rwanda, Kenya, Zimbabwe and Botswana. (Thanks to ALA, ALU, ALX, Harambee, Allan Gray Orbis Foundation, Driven Entrepreneurs, E-squared, Imagine Scholar, McKinsey, Nova Pioneer, RLabs, and Startup Academy. 



On April 15, during the inaugural Very Young Entrepreneur Education and Acceleration Summit, we’ll host our first experts’ panel and launch the draft position paper. Please follow or contribute to the conversation using the hashtag #AnzishaScenario. Make sure to also watch highlights from the Summit at anzisha.org/summit. Let’s see if we as a community can put young people at the center of solving the employment challenges we collectively face.

This Summit is gearing towards a future driven by Africa’s youngest entrepreneurs

<figure class="wp-block-image is-resized"><img loading="lazy" decoding="async" src="http://cnbc.africa/wp-content/uploads/2019/03/Absa-Wealth1-1110x624.jpg" alt="" class="wp-image-330691" width="594" height="334"/><figcaption>Our Galaxy &#8211; The Milky Way, A Veiga Starlight, Lugo, Galicia, Spain.</figcaption></figure>



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Here’s how you can explore endless horizons with offshore solutions to meet your global investment needs

The African Export-Import Bank (Afreximbank) has identified intra-African trade as a critical factor for unlocking Africa’s trade potential. Ms. Kanayo Awani, Managing Director of the Bank’s Intra-African Trade Initiative, says a lack of access to trade and market information is one of the key reasons for the low level of intra-African trade. Although the share of intra-African trade as a percentage of total African trade has increased from 10% in 1995 to around 15% currently, it remains low compared to the levels in Europe (59%), Asia (51%), and North America (37%). Historically, African countries are more familiar with markets in Europe and America than they are with those in neighbouring countries, resulting in the all too common phenomenon of manufacturers sourcing materials from outside the continent when they could access the same materials more cheaply from within.
The inaugural Intra-African Trade Fair 2018 is a key intervention aimed at boosting regional trade in Africa and will be the biggest gathering of buyers and sellers on the continent, with 1,000 exhibitors and more than 70,000 visitors expected. One of the key objectives of the IATF is to provide a platform for exchange of trade information. To facilitate this, a Trade Finance Conference will run parallel to the trade fair. Experts from across the continent and beyond will be speaking at the conference, which will bring stakeholders from industry and government agencies together to find solutions to the obstacles hampering regional trade. The Conference will also provide a platform for networking and setting up of strategic partnerships.
The IATF is, essentially, a gateway into the African Continental Free Trade Area (AfCFTA), which heralds what will be the biggest free trade area in the world. The first ever Intra-African Trade Fair, will provide direct access to the lucrative market created by the AfCFTA, which boasts over 1 billion people and a combined GDP of over US $3.4 trillion, making it an unprecedented platform for businesses to grow their interests exponentially into Africa. The trade fair will also provide opportunity for the presentation of bankable proposals for funding, and access to US$25 billion in trade finance for deals concluded at the event. Business-to-Business Exchanges will also be facilitated at the trade fair. According to Ms. Awani, Afreximbank is working actively with the African Union(AU) to implement the AfCFTA.
The IATF 2018 is being organized by Afreximbank in partnership with the AU and will be hosted by the Egypt’s Export Development Authority. Themed “Intra-African Trade for a Transformative Africa”, the IATF will take place from 11 to 17 December 2018 at the Egypt International Exhibition Centre in Cairo. The trade fair will be convened biennially. You can register as a visitor/delegate on our website at: www.intrafricantradefair.com. We look forward to seeing you in Cairo.

How IATF aims to boost regional trade in Africa

Bonolo Masilo began her work career at CHEP, a world leader in logistics and supply-chain management. Within six years, she was in a boardroom in London, presenting a proposal to the international leadership of the company.
She’d risen to become an innovation leader, had built a network of contacts that spanned the globe and been identified as one of her organisation’s brightest young talents.
Bonolo has been recognised as a precocious talent from the outset. CHEP started on this journey with her when they awarded her a full bursary for her operations-management studies at the University of Johannesburg, after which she joined the company in 2011 as a graduate trainee.
<img loading="lazy" decoding="async" class=" wp-image-321540 alignleft" src="http://cnbc.africa/wp-content/uploads/2018/11/Chep-e1541084523771.jpg" alt="" width="332" height="590" />
By 2015, she had risen in the organisation to become an operations supervisor, which kickstarted an interesting journey for her.
“I was probably the first CHEP female supervisor in the country,” says Bonolo. “It’s a male-dominated industry and you need to work a little harder than your peers to be recognised. But it does help you grow, and I emerged from the process stronger as a person and as a professional.”
Enhancing her growing reputation as a future star in her area was Bonolo’s selection for the company’s Bambanani inclusion and diversity project. This groundbreaking program saw the company develop a course that allowed each person to uncover their unconscious biases and address these, in order to make the organisation grow its people and its revenue. She was involved in facilitating 60 workshops across sub-Saharan Africa and develop a great deal from that.
The impact she made on the lives of her colleagues through Bambanani saw Bonolo selected for the CHEP talent development programme (TDP). This was a gilt-edged opportunity to work on a strategic project as part of a global team.
“I was the only staff member from South Africa chosen for the programme,” says Bonolo. “I met so many people, and got to grow my network in the sector, travelling to Spain, France and the UK.”
Bonolo says her involvement in the programme was a highlight of her career. 
“I really appreciate CHEP’s commitment to my development and that of everyone in the business,” she says. “To me it is clear why they’re seen as an employer of choice, and have been recognised by organisations like the Top Employers Institute for their exceptional employee offerings.”
Having blazed trails in her industry as a woman and a young person, Bonolo is now seeing her dedication bear fruit. She sees transformation rapidly gaining momentum in her sector, as more women find operations roles.
Bonolo says one of the keys to transformation is to build support networks with other women in the company and the industry. “We need each other. It’s good to have someone to talk to for advice and solidarity. It’s exciting to be making a real difference.”
She sees her future with CHEP, perhaps one day as an Operations manager. “I’ve had great mentorship from women in senior positions and I’m developing my skills, so I can get to the next level. I completed my BTech last year, and I might go for my masters next year. There are so many opportunities in our company.”
She insists that women can continue to make strides into previously male-dominated areas of business. “It’s not as difficult as it may seem. If you’re passionate about what you do, anything is possible.”
&nbsp;
Article provided by CHEP.

How this company is developing future supply chain leaders

By Nnamdi Oranye, Fintech Author and International Remittances Lead at Standard Bank Group
African economies are well positioned to benefit from rapidly accelerating technological change if they can harness the current open landscape for innovation.
East Africa is already a global leader in mobile payments, while mobile money accounts in sub-Saharan Africa are on an upward charge. Apart from being able to leapfrog the limitations and costs of physical infrastructure, the continent stands to benefit from having the youngest, tech-savvy workforce in the world in the next decade.
Africa’s working age population is expected to grow by 450 million people by 2035, according to the World Bank and the continent is projected to have the largest working population of 1.1 billion by 2034, notes the World Economic Forum on Africa. Recent GSMA data shows that mobile money accounts in sub-Saharan Africa are up 18.4% between 2016-17 to 33.8m registered accounts.
However, we cannot wait 12-15 years before adequate job creating initiatives and policies are unlocked. The answer lies in harnessing the power of the digital economy today to create African solutions for African problems. An important part of this will require promoting and partnering with African innovators to unlock sustainable growth.
We are already witnessing the significant potential of digital innovation in the remittance and mobile wallet space. Penetration of smart phones is expected to hit at least the 50% mark in 2020 from only 2% in 2010, according to the World Economic Forum, offering the continent a clean canvas for tech-based innovation. It is an opportunity we must not miss. These are exciting times and are forcing us to think differently to come up with true Pan African innovation and development.
MFS Africa is a good example of how carefully harnessed and supported technological innovation can have ripple effects through the continent. It now operates the largest digital payments network in Africa and connects over 170m mobile wallets through 100+ partners, including Airtel, Ecobank, MTN, Orange and Vodafone across 55 markets. It has about 15% of the African population connected to a platform.
M-Pesa, launched in Kenya in 2007, is an often-touted example of African technology making waves even outside its own borders. After capturing the local market for cash transfers it has spread to three continents and 10 countries
MicroEnsure, meanwhile continues on the path of developing pioneering insurance solutions for low-income people like micro-health, crop and mobile insurance. These are solutions directly aimed at emerging customers and it is little surprise the company continues new customers by cleverly partnering with telcos.
Access.mobile is another major success story, testing and growing its health innovation offerings for seven years in East Africa. The company works with health systems to hone their communications with patients in lower-income but also in growing areas and it hopped the pond in the opposite direction from most smaller startups and landed one of its first American clients. Adventist Health White Memorial Hospital, a Los Angeles facility that works largely with lower-income Hispanics, was looking for ways to use health data to achieve better outcomes within its population.
These are examples of the role models that will inspire our next generation of innovators. We need more and tech-savvy banks need to continue supporting them as they grasp future opportunities.
Just consider that Findex data shows that sub-Saharan Africa is home to all eight economies where 20 percent or more of adults use only a mobile money account: Burkina Faso, Côte d&#8217;Ivoire, Gabon, Kenya, Senegal, Tanzania, Uganda, and Zimbabwe. Opportunities therefore abound to increase account ownership: up to 95 million unbanked adults in the region receive cash payments for agricultural products, and roughly 65 million save using semiformal methods.
Standard Bank, as Africa’s largest bank by assets, hopes to support even more start-up and tech initiatives across the continent to ensure these opportunities are not lost. We are therefore innovating ourselves at a rapid pace to harness the benefits of the digital age to drive financial services inclusion. Mobile payment solutions like Snapscan is now available at over 25,000 merchants and a vast user network across South Africa. We are setting a new standard in digital payments with the launch of Africa’s first prepaid virtual cards ecosystem, among many other digital innovations.
The future will be about solving genuine customer problems rather than putting a band aid on them. One area in urgent need of change, for instance, is remittances, where Africa is still one of the costliest places in the world to remit payments – fees as high as 10% to 20% are still endured. We need to harness technology to genuinely solve this problem.
Sometimes when we talk about banking in cashless society we look too far out – but we don’t have luxury of time. Knowing your customer (KYC) is about understanding what they need today based on their culture and context and then unlocking the already available data to provide the solution.
Technology, for instance, can solve the unbanked problem on the continent. However, this does not mean you can “plug and play” by taking something that works in one country and expecting it to work in another. Success will increasingly be centred on having a Pan African view of the problem, but local implementation.
The future is certainly bright for Africa as exponential innovation continues to drive change across the continent we call home, disrupts industries and replace legacy technology. It is now time to grasp this opportunity with both hands before the innovation wave passes us by.

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